Reference Dependence in Queue Design and Pricing Strategies

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-03-22 DOI:10.1287/serv.2023.0033

Jian Liu, Yongpin Zhou, Jian Chen, Peng Li

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Abstract

This research investigates the effect of reference dependence on waiting times in service systems which formerly used a first-in-first-out (FIFO) service but have introduced a priority line with a fee. Our model combines reference-dependent gain-loss utility with standard customer utility, and we posit that customers are pleased with shorter-than-expected waiting times, whereas longer-than-expected times lead to dissatisfaction and an increased likelihood of balking. The study explores two scenarios: a captive customer system (CCS) and a noncaptive customer system (NCCS), with a focus on optimal pricing and segmentation strategies for revenue and social welfare maximization. The results reveal that, in a CCS, the service provider should implement observed and unobserved customer segmentation to optimize revenue and social welfare, respectively. In an NCCS, the impact of customer segmentation on revenue maximization depends on the value of regular customers, their loss reference-dependent preferences, and the system’s offered load. Alternatively, if the service provider seeks to maximize social welfare, the provider’s use of customer segmentation relies solely on the system’s offered load and customers’ reference-dependent preferences. Our findings also indicate that reference dependence can have varying impacts under different conditions, suggesting the effectiveness of tailored service and pricing strategies. Notably, a CCS generates more revenue than does an NCCS because of its captive nature, and, surprisingly, increasing the service rate can decrease revenue while improving social welfare. These insights have significant implications for service management strategies for a CCS and an NCCS.

Funding: J. Liu was supported by the National Natural Science Foundation of China (General Program) [Grant 72071112]. J. Chen was supported by the National Natural Science Foundation of China (Major Program) [Grant 71490723].

Supplemental Material: The online appendix is available at https://doi.org/10.1287/serv.2023.0033.

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队列设计和定价策略中的参考依赖性

本研究调查了参考依赖性对服务系统等待时间的影响，该系统以前使用先进先出（FIFO）服务，但现在引入了收费的优先线路。我们的模型将参考依赖性损益效用与标准客户效用相结合，并假设客户对短于预期的等待时间感到满意，而对长于预期的等待时间感到不满，并增加逡巡的可能性。本研究探讨了两种情况：俘虏顾客系统（CCS）和非俘虏顾客系统（NCCS），重点是收入和社会福利最大化的最优定价和细分策略。结果表明，在 CCS 系统中，服务提供商应实施观察到的客户细分和未观察到的客户细分，以分别实现收入和社会福利的最优化。在 NCCS 中，客户细分对收入最大化的影响取决于老客户的价值、他们的损失参考偏好以及系统提供的负荷。或者，如果服务提供商寻求社会福利最大化，那么提供商对客户细分的使用就完全取决于系统提供的负荷和客户的参考依赖偏好。我们的研究结果还表明，在不同条件下，参考依赖会产生不同的影响，这表明量身定制的服务和定价策略是有效的。值得注意的是，由于其圈养性质，CCS 比 NCCS 产生更多的收入，而且令人惊讶的是，提高服务费率可以在改善社会福利的同时减少收入。这些见解对中央监控中心和非中央监控中心的服务管理策略具有重要意义：刘杰受国家自然科学基金（一般项目）[72071112]资助。陈杰受国家自然科学基金（重大项目）[71490723]资助：在线附录见 https://doi.org/10.1287/serv.2023.0033。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.